New and Enhanced Features on Compliance.ai: July 2022
August 16, 2022
Over the past month, we have focused on improving our collaboration functionality, including multiple workflow usability enhancements.
We also continued enriching our resource content, most notably upgrading US Code to include Title, Chapter, Section information for easier navigation. Other new content includes regulatory updates for banking, insurance, housing, and the securities industries from US state regulators. We have also expanded our coverage from international sources from the EU, UK, Bermuda, Canada, Germany, and Singapore.
We’ll be showcasing these and other enhancements at our upcoming Expert-in-the-Loop Virtual Forum by Compliance.ai.
We are pleased to share our 2022 EITL Forum agenda with you, featuring Former FBI Special Agent and cybersecurity expert John Caruthers and Industry luminary Jo Anne Barefoot, as our keynote speakers. We are also sharing best practices, discussing regulatory directions and trends and networking during the event. We invite you to register for our virtual forum September 7-8th to hear from key leaders across the industry, and connect with other experts who are using Compliance.ai to overcome regulatory challenges.
Enrich your Regulatory Research with New Concepts
Following on the most recent regulatory trends, we have added several new Concepts to our library. Among the latest additions, you will find Concepts related to ESG, AML, and Anti-Bribery:
Operational:
ESG: Regulatory changes related to Environmental, Social, and Corporate Governance issues.
ESG – Environmental: Regulatory changes related to Environmental issues within the ESG space.
ESG – Social: Regulatory changes related to social issues within the ESG space.
ESG – Governance: Regulatory changes that relate to Governance issues within the ESG space.
BSA/AML:
General AML: Regulatory changes related to Anti-Money Laundering broadly.
AML – Sanctions: Regulatory changes related to financial sanctions, import and export controls, and money laundering.
Compliance:
Self-dealing: Regulatory changes related to self-dealing, related parties, and covered persons.
Regulatory Compliance Management:Regulatory changes broadly related to RCM.
Follow our new concepts by selecting Default Filter, choosing a concept category, then adding new concepts of interest.
You can use these concepts to research global regulatory trends, or customize them for your specific context by adding jurisdictions, agencies, or document types of interest. Once you’re comfortable with your customization, save your search as a new alert and share with other interested colleagues.
Workflow usability enhancements enable you to create, update, and complete workflows more conveniently and accurately
For Team Edition users, tasks are at the heart of your experience on our platform. To make it even easier to leverage workflow functionality, we’ve upgraded multiple aspects of both workflow management and task completion.
Speed up Workflow review using our refreshed Manage Workflows
Our new Manage Workflows page allows you to quickly review the most critical aspects of your workflows on a single, searchable screen. The page allows you to check key details related to all of your workflows at a glance so you can identify and resolve problems immediately. This includes ensuring that all workflows are assigned to the correct teams and driven by the expected alert.
Use our redesigned Workflow editing to help reduce human errors
Our new design helps you avoid common mistakes such as adding dependencies incorrectly in workflows with multiple similarly named tasks or forgetting to save changes after an update to a multi-step workflow. In addition, our new expandable text box design allows you to see all characters in your dropdown and description fields, no matter how long the text, making it easy to double check your entries before adding or editing a workflow.
Manage workflow assignments more efficiently using our refreshed ‘Task summary’ panel
Bolder text and improved right panel resizing makes it easier to review and complete your tasks.
Speed up workflow task review using our highlighted Task Assignee and Task Relevant information: Quickly pinpoint team members participating in your Reg-Change processes
We’ve added even more details, including task assignee and information about task relevance to ensure the workflow summary includes all the information you need to present details about a specific regulatory change workflow to your management team. This additional information has been added to ensure that you understand the level of effort required to complete the workflow on a particular document and can recalibrate your assignments on an ongoing basis.
Attend “Solving Real-World Challenges by Using Compliance.ai Workflow” on September 7 at 10:30am PST to learn more about leveraging workflow functionality within pro.compliance.ai.
If you want to learn more about integrations, attend the “Solving Real-World Challenges using Compliance.ai Integrations” on September 7 at 11:30am PST.
Introducing Title, Chapter, and Section information for easier US Code navigation
Leverage the familiar title, chapter, subchapter, section information for an improved US Code research experience.
Growing our Community
We are expanding our online customer community in order to provide more resources, better overall visibility and the opportunity for more peer to peer interaction. The Compliance.ai Community is accessible from within the platform by clicking on the question mark in the upper right corner and selecting either Request an Enhancement or File a Bug.
The Compliance.ai Community allows you to see all of your organization’s Tickets which includes Status, Target Completion Date (ETA) and any comments or additional information required. Our Knowledge Base is rapidly expanding with access to training videos and documentation, FAQs, product blogs that share the latest update and product release notes, and our full list of industry-related “regulatory trends” blogs. We are also opening up the Discussion board where you can interact with your peers and share your thoughts and questions.
Looking to the future of the Compliance.ai platform, our Product Team will be posting Ideas where customers can provide feedback and vote on future platform capabilities and features. Lastly, we will be sharing news about upcoming forums, webinars and events in our Announcements section.
Be sure to register for our EITL (Expert-in-the-Loop) virtual forum on Sept 7th & 8th, where we will be sharing more information!
One Source for Regulatory Intelligence: Expanding Regulatory Coverage
We continued our expansion of International regulatory sources. You can now follow recent regulatory updates for:
Insurance related updates from California, North Carolina, Illinois, Nevada, and the US Virgin Islands.
Banking related updates from Connecticut, Idaho, Massachusetts, Mississippi, Oklahoma, and Alabama.
Housing related updates from California and the US Federal Housing and Urban Development.
Securities related updates from the District of Columbia, Massachusetts, Missouri, New Hampshire, and the National Futures Association .
Bermuda: The Bermuda Monetary Authority, Guidance (BMU-MA)
Canada: Ontario Securities Commission (CAN-OSC)
European Union: European Parliament (EU-PARL), EU Banking Authority (EU-EBA)
United Kingdom: HM Revenue & Customs (UK-HMRC)
Germany: Federal Financial Supervisory Authority of Germany (DEU-BaFIN), Bundesbank (DEU-BB), Bundesministerium der Finanzen (DEU-BMF), Bundesverband deutscher Banken (DEU-BVB), Die Deutsche Kreditwirtschaft (DEU-DK), Verband der Auslandsbanken (DEU-VAB)
Singapore: Singapore Parliament (SGP-PARL)
Please visit Agency Sources within the documentation section of our Developer Platform website and bookmark the pages as we update them frequently!
Update your Default Filters at any time to take advantage of our new regulatory sources.
We hope you enjoyed this product update!
Client feedback is always welcome. Please contact our support team with any questions or feedback or schedule a time to review our new features. Remember that you can always access the Training Center under the Help (?) section of the platform for more information.
Asif Alam is the Chief Executive Officer at Compliance.ai. A leader in shaping disruptive technology, his experience includes building products using AI and natural language processing for GRC, payments, lending, risk, trading, and new solutions, from Fortune 500 companies to startups.
In his most recent role, he served as the Chief Strategy Officer of ThoughtTrace, unlocking new revenue streams and markets, and reignite portfolio growth. ThoughTrace was then acquired by Thomson Reuters in 2021.
He brings more than 20 years of management and business experience; increasing profitability, unlocking new revenue streams and markets, and reignite portfolio growth for companies like Thomson Reuters, Crux Informatics, and Finastra. Asif is a forward-thinking expert driving engagement via client forums, public presentations, and white papers.
Cesar Lee is a Principal at WRV, a venture capital fund focused on early-stage investments in hardware, semiconductor, and other technology-related companies. Previously, he was an investment professional at Riverwood Capital, a technology-focused, late-stage venture capital, and private equity fund. He began his career at RBC Capital Markets, where he was part of the Mergers & Acquisitions group for two years and the Equity-linked & Derivatives group for one year. While at RBC, Cesar spent a majority of his time working on M&A advisory transactions for technology companies.
Cesar’s investment experience includes buyouts, later stage, early stage and seed rounds. Cesar has completed transaction in the U.S., Latin America, and Asia, and in technology sectors including data centers, software, semiconductors, consumer electronics, robotics, big data, and internet.
Maria Devassy is a RegTech, Content, and Technology leader with over 20 years of experience helping companies bridge the gap between technology, product, and business. Maria has held leadership positions with MetricStream, KPMG, Oracle Corporation, and other technology companies. She has launched several successful RegTech products, business partnerships, and advised Fortune 100 clients on risk management, audit, advisory, and compliance business across Industries.
Hugh Cadden is a recognized expert in derivative financial and trading markets including futures, options, and swaps. Hugh is currently a senior consultant and expert with OnPoint Analytics, Inc. an economic, finance and statistical consultancy specializing in expert testimony for complex litigation. He has been specializing in the organization, operation, and regulation of financial and trading markets for over 40 years. Hugh’s experience includes both the public and private sectors and he has held senior level positions with the U.S. Commodity Futures Trading Commission including serving as Director of the Division of Trading and Markets and Deputy Director of Enforcement. He has been qualified as an expert on financial and trading market matters before the Commodity Futures Trading Commission, the Securities and Exchange Commission, the U.S. Tax Court, Financial Industry Regulatory Authority, National Futures Association, American Arbitration Association and federal courts.
Drake Ross is a former bank regulator who specialized in compliance with consumer protection regulations while at the OCC, FDIC, and OTS. While at these agencies, he provided extensive training and guidance and developed materials to ensure full comprehension and proper application of rules, laws, policies, and guidance, and served as a Subject Matter Expert in numerous areas. Because of his expertise, he often presented at agency and industry events. He also played a significant role in successful windup of the 2008 IndyMac Bank failure, where because of his extensive knowledge of the FDIC deposit insurance regulations, he was called upon to administer highly-complex insurance determinations.
Carliss Chatman is an Assistant Professor of Law teaching Contracts, Agency and Unincorporated Entities, Corporations, and Transactional Skills. Her work is influenced by over two decades of service on non-profit boards and involvement with community organizations. Through leadership positions, she has developed expertise in corporate governance and non-profit regulation. She has also been instrumental in strategic planning and fundraising efforts. Prior to law teaching, Professor Chatman was a commercial litigation attorney in Houston, Texas. In practice, she focused on trial law, appeals and arbitration in pharmaceutical, health care, mass torts, product liability, as well as oil, gas, and mineral law. In addition to negotiating settlements and obtaining successful verdicts, Professor Chatman has also analyzed and drafted position statements regarding the constitutionality of statutes and the impact of statutory revisions for presentation to the Texas Legislature.
Sign me up for all regulatory updates
Get access to EITL Forum recordings
Mariam is an Operating Principal at Cota Capital. Mariam has experience providing guidance on strategic and operational planning to Venture and Growth stage companies. Prior to Cota Capital, Mariam spent her career in management consulting as a Director at KPMG. She has experience leading global transformation programs and developing innovative service offerings for Fortune 500 companies in the Technology sector. Mariam has an MBA from UCLA’s Anderson school of management with an emphasis in Finance and Entrepreneurship. She has a Bachelors in Science in Finance and a Bachelors in Science in Economics from Santa Clara University.
Chris Callison-Burch is an Associate Professor in Computer and Information Science Department at the University of Pennsylvania. His research interests include natural language understanding and crowdsourcing. He has served the Association for Computational Linguistics as the General Chair for the ACL 2017 conference, as an action editor for the Transactions of the ACL, as an editorial board member for the Computational Linguistics journal, and an officer for NAACL (the North American chapter of the ACL) and for SIGDAT (the special interest group for linguistic data and corpus-based approaches to natural language processing)
Tom Ladt is an experienced executive and investor. Tom has lead and served on the boards of several public and private companies serving highly regulated industries such as technology, healthcare, real estate, and food processing. Tom has also served in key governmental roles and on numerous community boards.
Jeroen Plink is a global executive with a proven track record of developing and growing businesses, teams, and technologies with innovation and passion. Jeroen was CEO of Practical Law US during its acquisition by Thomson Reuters. He now serves on numerous boards and acts as a strategic consultants for start-ups.
Global Legal and Compliance executive with 15+ years of success in the SaaS technology and financial services industries. Partner to the CEO and executive team in corporate transactions, business development, product expansion, and regulatory navigation during periods of intense growth and organizational change. An advocate of effective risk management that starts with sound business practices and putting the customer first.
Richard Dupree has held multiple Risk, Compliance and Operations positions at regional, national, and global financial services firms including Wells Fargo, Silicon Valley Bank, Bank of the West and BNP Paribas. Rick currently advises FinTechs and RegTechs and sits on industry panels, contributes to industry whitepapers, thought leadership efforts, and speaks at industry seminars on Risk and Compliance challenges faced by banks and FinTechs.
Brian advises clients on legal and regulatory compliance in the financial, tech, and procurement sectors. His passion is helping businesses succeed in heavily regulated environments. As counsel and trusted advisor to businesses of all sizes, and as a former regulator, policymaker, and federal official, Brian acutely understands the unintended burdens that even well-intentioned government requirements can put on innovation and business growth, as well as how to create policies that strike the right balance.
Brian served as National Ombudsman in the Obama Administration, leading the federal Office of Regulatory Enforcement Fairness in assisting hundreds of startups, entrepreneurs, and small business owners in every industry and every state.
Dr. Marsha Ershaghi Hames is Managing Director of Strategy & Development at LRN, a leader in advising and educating organizations about ethics and regulatory compliance, as well as corporate culture, governance and leadership. With the focus of inspired behavior versus required behavior, LRN is a leading voice in the industry for companies to build ethical cultures instead of “check-the-box” compliance approaches. She’s advised Department of Justice corporate monitors on successful program transformation under CIAs (Corporate Integrity Agreements. With over 20 years of experience in leading multinational ethics and compliance strategies, Marsha has become a highly sought-after thought leader on leading Corporate Compliance and Ethics practices.
Carla Carriveau is currently the Senior Managing Counsel at Wealthfront, an automatic investment service firm in Redwood City, California. Carla was previously Senior Counsel, Division of Trading and Markets, at the United States Securities and Exchange Commission. As a former regulator with over 15 years of experience in helping small businesses navigate legal and regulatory needs in the financial services sector, Carla advises Compliance.ai on financial services regulation, the regulatory landscape and industry practices.
